In The News

From Berkshire Hathaway to Silicon Valley, little to show for diversity pledges, critics say

From CBS News:

"As bank workers and Wells Fargo shareholders, we don't want empty promises," Ted Laurel, an account resolution specialist in San Antonio, Texas, who is Mexican-American, said in a news conference last week organized by the Committee for Better Banks (CBB), a coalition of bank workers, consumer and labor groups.

The Push to Diversify Banking from Within the Industry

From ABC news:

The racial reckoning in America calling for diversity has touched every industry including banking.

According to a report from the Committee for Better Banks -- a bank workers' advocacy group -- Black and Latino employees have a significantly smaller chance of holding an executive position in corporate banks in comparison to their white counterparts.

'Racial bias runs deep' at America's largest banks, study says

From CNN:

New York (CNN Business)The banking industry has a race problem, and a new study is putting a spotlight on the inequalities within the nation's largest financial institutions.

Banks stand to make billions from the pandemic. How can that filter down to everyday Americans?

From Fortune Magazine:

At first glance, the economic fallout from the COVID-19 pandemic mirrors the one following the subprime mortgage crisis that came to a head in 2008. 

Major U.S. Banks Criticized by Workers’ Group for Virus Response

Bloomberg News:

There are “major shortcomings” in how some big U.S. banks are providing financial relief for customers and instituting safety measures for front-line workers during the coronavirus pandemic, according to a coalition of labor unions, employees and advocacy groups.

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